Customs Act

VAT Act

Excise Tax Act

What steps need to be taken to obtain exemptions for large scale mining?

These guidelines apply to Large Scale Miners who are requesting tax exemptions,  the zero-rating of value-added tax, and the exemption from the payment of excise tax. The steps are outlined below:

Step 1: Guyana, Geology & Mines Commission (GGMC)

  1. Three (3) copies of the Investment Agreement are prepared by the Guyana Geology & Mines Commission (GGMC), including a list of the items required, and submitted to the Guyana Revenue Authority (GRA). Guyana Revenue Authority reviews the draft and if satisfied that the items listed therein qualify for tax exemptions, a letter of recommendation is prepared and sent to the Minister of Finance for approval.
  2. If GRA is not satisfied with the description and/or quantity of items in accordance with the laws, then a meeting is requested with the applicant and representatives from GGMC.

Step 2: Ministry of Finance

  1. GRA forwards a letter of recommendation together with the three (3) copies of the Investment Development Mineral Prospecting Mining and Stone Quarrying Agreement to the Minister of Finance for approval.
  2. The Minister of Finance, if satisfied, signs and returns the signed Agreements to the GRA.

Step 3: Guyana Revenue Authority

  1. An acknowledgment letter is prepared and sent to the applicant together with a copy of the Investment Development Mineral Prospecting Mining and Stone Quarrying Agreement.
  2. A copy of the Investment Development Mineral Prospecting Mining and Stone Quarrying Agreement is sent to GGMC confirming approval and a copy is retained by the GRA.
  3. The applicant is required to apply on a case by case basis to the GRA for the items on the approved list. (Refer to the information listed on General Application Procedures attached).
  4. GRA processes the request and issues a CG letter.
  5. In cases where the applicant has not supplied information that is required by the Guyana Revenue Authority, a letter is issued to the applicant requesting the required information.

For reference see First Schedule Part III B (1) Item 11 of the Customs Act, Sub-Section (z) and Sub-Section (ll) of Schedule 1, Paragraph 2 of the Value-Added Tax Act, and Table A-6 of Section 15 of the Excise Tax Act.